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Clean Max Enviro Energy Solutions Limited is a leading provider of renewable energy solutions for commercial and industrial (C&I) clients in India. Established in 2010, the company specializes in decarbonization, offering renewable power, energy services, and carbon credit solutions. Its operations are divided into two primary segments: the Renewable Energy Power Sales Segment, which involves selling power through long-term agreements from its solar, wind, and hybrid plants, and the Renewable Energy Services Segment, which provides EPC, O&M, and carbon services to customers.
Feb 23, 2026
Feb 25, 2026
Mar 02, 2026
Mainboard
Upcoming
3100 Cr
1200 Cr
1900 Cr
₹1000 - ₹1053
14
The main objectives of the issue are to utilize the net proceeds from the fresh issue for the following purposes:
Repayment and/or pre-payment, in part or full, of certain outstanding borrowings availed by the company and/or its subsidiaries, amounting to an estimated ₹1,125.00 crores, which will help reduce outstanding indebtedness and debt servicing costs.
Funding general corporate purposes, which may include but are not limited to, project costs, strategic initiatives, business development, and other operational expenses, with the amount not exceeding 25% of the Gross Proceeds.
377.42
2.79
0.43%
—
0.43%
—
1.96%
65.79%
4.11
Leading provider of C&I renewable energy in India with a comprehensive suite of customer-centric capabilities and strong customer relationships.
Demonstrated capabilities in timely and cost-effective project development, execution, and management of solar, wind, and hybrid plants.
Efficient capital allocation and risk management, supported by a diverse lender pool and co-investment partnerships.
Experienced management team and a strong company culture focused on execution excellence and client satisfaction.
Incurred restated losses for the year in Fiscal 2024 and Fiscal 2023, indicating historical unprofitability.
High geographical concentration of operational projects in Karnataka and Gujarat, making the business susceptible to regional risks.
Dependence on top 10 customers for a significant portion of revenue, with contributions of 36.16% and 45.39% in Fiscals 2025 and 2024 respectively.
Reliance on a limited number of suppliers for key equipment such as solar modules and wind turbine generators.
Rapid growth expected in India's renewable energy sector, with significant capacity additions projected in solar and wind by 2030.
Increasing adoption of the Open Access model by C&I consumers, creating a larger addressable market.
Expansion into emerging solutions like wind-solar hybrid power, Battery Energy Storage Systems (BESS), and the growing global corporate PPA market.
Growing demand for carbon credit solutions and environmental attributes like I-RECs as corporations pursue Net Zero goals.
Adverse changes in the regulatory and policy environment affecting the renewable energy sector, including open access charges and incentives.
Risk of counterparties defaulting on or terminating long-term Power Purchase Agreements (PPAs).
Uncertainty in land titles in India can lead to disputes and delays in project acquisition and development.
Variability in environmental conditions, such as solar irradiance and wind speed, which could negatively impact energy generation and revenue.
Clean Max Enviro Energy Solutions Limited is a leading provider of renewable energy solutions for commercial and industrial (C&I) clients in India. Established in 2010, the company specializes in decarbonization, offering renewable power, energy services, and carbon credit solutions. Its operations are divided into two primary segments: the Renewable Energy Power Sales Segment, which involves selling power through long-term agreements from its solar, wind, and hybrid plants, and the Renewable Energy Services Segment, which provides EPC, O&M, and carbon services to customers.
The Clean Max Enviro Energy Solutions Ltd. IPO is scheduled to open for subscription on Feb 23, 2026 and close on Feb 25, 2026. Investors can apply for shares during this period through eligible platforms.
The price band for the Clean Max Enviro Energy Solutions Ltd. IPO is ₹1000 to ₹1053. Investors can place bids within this range once the issue opens.
The minimum lot size for the Clean Max Enviro Energy Solutions Ltd. IPO is 14 shares. The minimum investment amount ₹14,742.
The total issue size of the Clean Max Enviro Energy Solutions Ltd. IPO is approximately ₹3,100.00. Issue size represents the total value of shares offered to the public.
As per the latest available information, the Clean Max Enviro Energy Solutions Ltd. IPO has been subscribed data will be available once the issue opens. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the Clean Max Enviro Energy Solutions Ltd. IPO is not available as of now. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of Clean Max Enviro Energy Solutions Ltd. are expected to list on stock exchanges on Mar 02, 2026, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the Clean Max Enviro Energy Solutions Ltd. IPO are proposed to be used for The main objectives of the issue are to utilize the net proceeds from the fresh issue for the following purposes:, Repayment and/or pre-payment, in part or full, of certain outstanding borrowings availed by the company and/or its subsidiaries, amounting to an estimated ₹1,125.00 crores, which will help reduce outstanding indebtedness and debt servicing costs., Funding general corporate purposes, which may include but are not limited to, project costs, strategic initiatives, business development, and other operational expenses, with the amount not exceeding 25% of the Gross Proceeds.
Before applying for the Clean Max Enviro Energy Solutions Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
